Morgan Stanley released a research report stating that before the confirmation of the bottom of the Real Estate and industrial cycles in the second half of 2025, state-owned domestic bank H-shares like Agricultural Bank Of China (01288) and China Construction Bank Corporation (00939), which offer approximately a 7% high dividend yield, will be a safe choice, because growth stocks are at risk, while the interest returns on mainland time deposits and debts are at low levels.

The bank also stated that Postal Savings Bank Of China (01658) offers a comparable dividend yield while having more potential for cost savings and reduced funding costs, making it still Morgan Stanley's preferred choice, with a target price of 5.3 Hong Kong dollars. The target prices for Agricultural Bank Of China, China Construction Bank Corporation, Industrial And Commercial Bank Of China (01398), Bank Of China (03988), and CM BANK (03968) are set at 4.4 Hong Kong dollars, 7.1 Hong Kong dollars, 5.6 Hong Kong dollars, 4.6 Hong Kong dollars, and 44.5 Hong Kong dollars respectively, with ratings all being "Shareholding."